Zurich, Switzerland, January 8, 2010
Covagen, an ETH Zurich spin-off company pioneering the development of a novel class of
protein therapeutics (Fynomers), announced today the closing of a financing round with its
existing shareholder Ventech and Edmond de Rothschild Investment Partners (EdRIP), who are
joining as new investors. Gilles Nobécourt will join Covagen’s Board of Directors as
representative of EdRIP. After fifteen years of holding various positions in the pharmaceutical
industry Gilles Nobécourt joined the Life Science Team of EdRIP in 2002.

“We are very pleased that we could attract additional funding and add EdRIP to Covagen’s
investor syndicate. The additional investment provided by Ventech and EdRIP validates the
interest in our technology and therapeutic programs”, said Dr. Julian Bertschinger, Chief
Executive Officer of Covagen.

For further details, please contact:

Covagen AG

Dr. Julian Bertschinger, CEO

Tel: +41 (0) 44 635 60 33

julian.bertschinger@covagen.com

About Covagen:

Covagen develops next generation protein drugs for the treatment of inflammatory diseases
and cancer by using its proprietary protein engineering technology, which has been developed
at ETH Zurich (Switzerland). Covagen's innovative platform comprises the recently developed
Covalent DNA Display technology and a novel single domain protein scaffold, which - in
analogy to antibodies - can be engineered to yield high affinity binding proteins called
Fynomers that can be used for therapeutic applications. In addition, the modular structure of
Covagen's Fynomers and its favorable biophysical properties potentially allow for treatment
modalities that are difficult or impossible to be exploited with antibodies. For more
information, please visit http://www.covagen.com.